answersLogoWhite

0

Is revenue a real account

Updated: 9/20/2023
User Avatar

Loggerswife

Lvl 1
12y ago

Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: Is revenue a real account
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is unearned revenue nominal account?

no!! =) its a real account


Is unearned revenue is nominal account?

Unearned ravenue is liability account as revenue is not yet earned but cash received.


What are the appropriate names for the revenue account for a businesses such as doctor hairdresser photographer loan company real estate company and dry cleaning company?

the doctor, hairdresser and photographer's revenue account name is fees revenue real estate's revenue account name is commission earned


Unearned revenue is a contra revenue account?

Unearned Revenue is a Liability Account


What kind of account is unearned revenue?

Unearned Revenue is a liability account.


What type of account is unearned revenue?

Unearned Service Revenue is a Liability account.


Is accumulated depreciation a real or temporary account and why?

It's a real account. Easy way to remember it is by remembering the accounting formula. Assets= Liabilities+ Capital- Withdrawals+ Revenue- Expenses Withdrawals, Revenue and Expenses are temporary and get closed at the end of the accounting cycle. Since Accumulated Depreciation falls under the Assets account and is a contra asset


Unearned revenue account is classified as a?

Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.


What type of account is unearned service revenue?

Unearned Service Revenue is a Liability account.


Is Purchase Discount revenue or expense?

Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.


What type of account is the rent receivable account?

Revenue account


Does a revenue account normally have a debit balance?

No. A revenue account should always show a credit balance.